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CIPS L4M5 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: Understand how commercial negotiations should be undertaken	30%	- Communication skills 1. Active listening and questioning 2. Non-verbal communication and emotional intelligence - Tactics and influencing methods 1. Managing concessions and deadlocks 2. Persuasion and influencing techniques 3. Cultural and ethical considerations - Review and improvement 1. Documenting agreements and lessons learned 2. Evaluating results and performance - Stages of negotiation 1. Opening, exploring, bargaining, closing and implementing
Topic 2: Know how to prepare for negotiations with external organisations	35%	- Planning and resources 1. Information gathering and market intelligence 2. Team roles and preparation plans - Economic and market factors 1. Inflation, exchange rates and risk factors 2. Supply and demand conditions 3. Market structure and competition - Cost and price analysis 1. Cost modelling and price analysis techniques 2. Types of costs and pricing structures - Negotiation criteria and objectives 1. Prioritising issues and trade-offs 2. Defining measurable outcomes
Topic 3: Understand key approaches in the negotiation of commercial agreements with external organisations	35%	- Power dynamics in negotiation 1. Impact of power balance on outcomes 2. Sources of power and influence 3. Relationship types and their effect on negotiation - Types of negotiation approaches 1. Distributive / competitive (win-lose) 2. Collaborative / integrative (win-win) 3. BATNA, target setting and reservation price 4. Pragmatic and principled negotiation styles - Application of commercial negotiations in procurement and supply 1. Position within the CIPS procurement cycle 2. Sources and management of conflict 3. Team and stakeholder management in negotiation 4. Definitions and purpose of commercial negotiation

Section

Weight

Objectives

Topic 1: Understand how commercial negotiations should be undertaken

30%

- Communication skills

1. Active listening and questioning
2. Non-verbal communication and emotional intelligence

- Tactics and influencing methods

1. Managing concessions and deadlocks
2. Persuasion and influencing techniques
3. Cultural and ethical considerations

- Review and improvement

1. Documenting agreements and lessons learned
2. Evaluating results and performance

- Stages of negotiation

1. Opening, exploring, bargaining, closing and implementing

Topic 2: Know how to prepare for negotiations with external organisations

35%

- Planning and resources

1. Information gathering and market intelligence
2. Team roles and preparation plans

- Economic and market factors

1. Inflation, exchange rates and risk factors
2. Supply and demand conditions
3. Market structure and competition

- Cost and price analysis

1. Cost modelling and price analysis techniques
2. Types of costs and pricing structures

- Negotiation criteria and objectives

1. Prioritising issues and trade-offs
2. Defining measurable outcomes

Topic 3: Understand key approaches in the negotiation of commercial agreements with external organisations

35%

- Power dynamics in negotiation

1. Impact of power balance on outcomes
2. Sources of power and influence
3. Relationship types and their effect on negotiation

- Types of negotiation approaches

1. Distributive / competitive (win-lose)
2. Collaborative / integrative (win-win)
3. BATNA, target setting and reservation price
4. Pragmatic and principled negotiation styles

- Application of commercial negotiations in procurement and supply

1. Position within the CIPS procurement cycle
2. Sources and management of conflict
3. Team and stakeholder management in negotiation
4. Definitions and purpose of commercial negotiation

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CIPS Commercial Negotiation Sample Questions (Q379-Q384):

NEW QUESTION # 379
Which of the following would describe a push approach to influencing?
Exerting power or authority
Extensive use of open questioning
The party being influenced is fully aware of the process occurring
The party being influenced may not be aware of the process happening

A. 1 and 2 only
B. 3 and 4 only
C. 1 and 3 only
D. 2 and 4 only

Answer: C

Explanation:
A push approach typically involves exerting authority or power (1) with the party being influenced generally aware of the influence process (3). This method involves overtly directing or persuading the other party, often through explicit information or directives, as per CIPS's understanding of push influence techniques.

NEW QUESTION # 380
Colin Smith is preparing for a negotiation with a supplier that provides a chemical for grass fertiliser. Colin has been given an action to secure a commercial deal that achieves his organisation's objective of 'ethical and sustainable procurement.' As part of his negotiation plan, Colin is using the 'must, intend, like (MIL)' framework to prepare for the negotiation. Colin would categorise his organisation's objective within the negotiation plan as ...

A. Like to have
B. Must have
C. Likely to have
D. Intend to have

Answer: B

Explanation:
In the MIL framework, "Must have" refers to non-negotiable elements. For Colin's organisation,ethical and sustainable procurementis a core, uncompromisable value, making it a "Must have" in negotiations.
Reference: L4M5 Commercial Negotiation 2nd edition (CORE), Section 3.1 - Using the MIL Framework for Negotiation Objectives

NEW QUESTION # 381
Which of the following is the most appropriate approach to investors or shareholders who have high level of influence but low interest in the running of business?

A. Manage them closely
B. Engage and keep them satisfied
C. Engage and consult with them regularly
D. Keep these people inform through general communication media

Answer: B

Explanation:
Investors or shareholders who have high level of influence but low interest belong to 'Keep satisfied' quadrant of Mendelow's Stakeholder Matrix.
You may read 2 versions from L4M1 and L4M5 here:

Table Description automatically generated

LO 1, AC 1.1

NEW QUESTION # 382
Which of the following is the true statement?

A. Internal stakeholder support will be important for both negotiation and contract performance
B. All connected stakeholders have a low level of impact on procurement negotiations
C. External stakeholders such as suppliers can largely influence an organisation's procurement negotiations
D. Commercial negotiation objectives should be driven by just the instincts of procurement

Answer: A

Explanation:
:
Internal stakeholder support will be important not just at the initial negotiation of the contract, but potentially throughout the life of the contract right through to exit.
As a general rule, connected stakeholders (with the exception of suppliers) have a low level of influence on procurement negotiations.
Suppliers are connected stakeholders who have contractual relationships with the organisation.
Commercial negotiation objective should be driven by the business needs of the organisation, and not just the instinct of procurement.

NEW QUESTION # 383
Cost and price analysis is very important for buyers when they are preparing for a negotiation with supplier.
Which of the following is a benefit of knowing supplier's fixed costs?

A. The buyer would be able to know the right volume to reach break-even point
B. With the sole understanding of supplier's fixed cost, the buyer would be able to know the volume at which supplier maximises their profit in short-run
C. The buyer would be able to get a comprehensive picture of supplier's efficiency
D. The buyer would be able to know the point at which the supplier would reject the offer

Answer: A

Explanation:
Knowing supplier's fixed and variable costs is beneficial for the buyer in a negotiation. With these insights, the buyer would know the volume at which the supplier reaches break-even points and then offers significant discount due to economies of scale.

NEW QUESTION # 384
......

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